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1188 President Street, Broo...

Bruce Krinsky Acquires Mixed-Use Asset At 1188 President St. In Crown Heights, Brooklyn For $2.65M
SOLDMixed-use

Bruce Krinsky Acquires Mixed-Use Asset At 1188 President St. In Crown Heights, Brooklyn For $2.65M

1188 President Street, Brooklyn, New York 11225, United States

$2,650,000

$486/SF

Building Size

5,450 SF

Asset Type

Mixed-use

Closing

Mar 6, 2022

AI

Located at 1188 President St. in Crown Heights, Brooklyn, this mixed-use property was recently sold in a transaction on 03/07/2022. The property spans approximately 5,450 square feet and boasts a sale price of $2,650,000, resulting in a price per square foot of $486. The buyer in this transaction was Bruce Krinsky, while Murray Saltzman acted as the seller. Sully Klein from Real Street represented both parties as the broker.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,650,000
  • Address: 1188 President St., Crown Heights, Brooklyn
  • Square Footage: 5,450
  • Buyer: Bruce Krinsky
  • Seller: Murray Saltzman
  • Broker: Sully Klein - Real Street

This transaction highlights the successful collaboration between buyer Bruce Krinsky and seller Murray Saltzman. Sully Klein from Real Street played a crucial role as the broker, facilitating the deal between the parties involved.

Players

Sully Klein

Broker

$28.7M

vol

14 deals

Broker

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.99%

Cash-on-Cash

-1.71%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93